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Investments

8

Portfolio Exits

1

About Bobby Goodlatte

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Latest Bobby Goodlatte News

A Twitter slap battle deviates from the norm

Feb 5, 2022

Posted On: Certain venture capitalists who tweet often have become more vituperative in recent months, with some of the industry’s most influential figures striking out in unprecedented ways. Chris Dixon and Marc Andreessen come to mind as two individuals who have recently shown little tolerance with powerful individuals who wonder if the promise of crypto, blockchain-based collectibles, or decentralisation is exaggerated. The most publicised struggle started in late December, when billionaire entrepreneur and creator of Twitter Jack Dorsey tweeted to his six million followers, “You do not own ‘web3.’ The venture capitalists and their limited partners do. It will never escape their gravitational pull. At the end of the day, it’s a centralised corporation with a different title.” While Dorsey was mocking venture capitalists, there is some validity to the statement. Andreessen and other crypto-forward businesses like as Paradigm and Pantera do have financial stakes in some of the largest platforms available, which is perfectly acceptable. Those platforms may not exist without the corporations’ assistance, and they might grow more decentralised over time. Dorsey’s remark, though, sparked a battle. Dixon detonated the first grenade by subtweeting to his almost 800,000 followers, “[F]irst they ignore you, then they laugh at you, then they fight you, and finally you win.” Dixon had cause to gloat. For years, Andreessen Horowitz was seen as being on a fool’s errand due to the amount of money and resources it invested in cryptocurrency initiatives. The joke is now on everybody who did not invest a greater portion of their time and money in those similar pursuits. To refresh your memory, Andreessen Horowitz’s stake in Coinbase was valued at $11 billion on the day the cryptocurrency exchange started trading publicly last year. However, the fight did not end there. Dorsey responded to Dixon, Andreessen entered into the chat many times to attack Dorsey, and the situation has continued to deteriorate. Recently, the miasma has become much larger. Bobby Goodlatte, a former Facebook employee who later became an angel investor and venture capitalist, tweeted yesterday to no one in particular, “I’m a major crypto bull and believe art NFTs are foolish.” Although Goodlatte’s tweet seemed to be harmless at first glance, Chris Dixon, who has more than ten times Goodlatte’s 70,000 followers, abruptly reposted Goodlatte’s statement, saying above it, “Can I short Bobby Goodlatte?” Dixon disabled Goodlatte’s account before he could answer. Dixon seems to have already removed the remark, as well as another slur made at Goodlatte, whose father is a former Congressman: “My parents are millionaires, and I lucked into crypto, but now I’d want to trash hardworking entrepreneurs who earned [their] way up.” Goodlatte, who seemed sincere in his outrage, afterwards referred to Dixon as a clown. I’ve beat Chris to every good investment he’s ever made so I welcome the short. Chris was series B at Coinbase, I was series A. Chris bought ETH in 2015, I bought in 2014. ????‍♂️ Dunks, then blocks me. What a clown pic.twitter.com/eY7LSetQ3P Numerous industry analysts have privately inquired as to what is going on at Andreessen Horowitz. Have the partners just amassed enough wealth that they are “post giving a fuck,” as one venture capitalist put it confidentially earlier today? Eric Bahn, a general partner at Hustle Fund, has a different viewpoint. “If you examine the information that has been posted on Facebook in the past, you will see that its algorithms have rewarded negative articles, attack stories. That is really shareable material. On Twitter, the same is true. Certain individuals recognise that if you really mean takedowns, you will be detected.” Obviously, the company’s investors will remain silent. Andreessen Horowitz has been amassing wealth for all of its stakeholders. Some of those investors — as well as some startups seeking funding — may even find such brass-knuckled approaches intriguing. However, some of its competitors are certainly exploiting the firm’s pugnacious demeanour – one of the few chinks in the firm’s armour these days. Parker Thompson, a venture investor with TNT Ventures, summed up what many are muttering in the aftermath of the Dixon-Goodlatte saga when he tweeted , “There seems to be something in the water over there that’s driving people insane.” This is not a positive development for the portfolio.”

Bobby Goodlatte Investments

8 Investments

Bobby Goodlatte has made 8 investments. Their latest investment was in Snazzy as part of their Seed VC on December 12, 2021.

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Bobby Goodlatte Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

12/8/2021

Seed VC

Snazzy

$2.2M

Yes

6

3/25/2021

Series A

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$99M

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10

2/28/2020

Series A

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$99M

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10

11/21/2019

Seed VC

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$99M

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10

1/14/2015

Seed VC

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$99M

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10

Date

12/8/2021

3/25/2021

2/28/2020

11/21/2019

1/14/2015

Round

Seed VC

Series A

Series A

Seed VC

Seed VC

Company

Snazzy

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Amount

$2.2M

$99M

$99M

$99M

$99M

New?

Yes

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Co-Investors

Sources

6

10

10

10

10

Bobby Goodlatte Portfolio Exits

1 Portfolio Exit

Bobby Goodlatte has 1 portfolio exit. Their latest portfolio exit was Delighted on April 12, 2018.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

4/12/2018

Acquired

$99M

1

Date

4/12/2018

Exit

Acquired

Companies

Valuation

$99M

Acquirer

Sources

1

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